AGP Executive Report
Last update: 7 hours agoANZ Results: ANZ’s FY26 cash profit jumped 31% to $7.59 billion after $902 million in cost savings, but shares fell 3.2% as investors weighed weaker-than-expected revenue and mounting customer pressure. CEO Nuno Matos said most borrowers remain ahead on repayments, though strain became more visible in the second half. Rates and Inflation: The RBA’s chief economist warned the data-centre boom could keep inflation and interest rates higher for longer, adding to household pressure after five rate hikes this year pushed average mortgage payments up about $600 a month. Markets: Australian shares edged higher as miners rallied, while ANZ lagged and investors turned to this week’s bank updates. A rebound in Asian tech stocks also lifted risk appetite and helped the Australian dollar recover from a seven-month low.
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